- AUSTRALIA EXPECTED TO BENEFIT FROM RECENT CHINA COAL QUALITY POLICIES - INDIA COAL IMPORTS RISING FASTER THAN EXPECTED - PEABODY SIGNING SOUTHERN POWDER RIVER BASIN COAL SUPPLY AGREEMENTS AT LEVELS MATERIALLY ABOVE PUBLISHED INDICES
ST. LOUIS , July 17, 2014 /PRNewswire/ -- Peabody Energy (NYSE:BTU) today praised the action of Australia's Parliament and Prime Minister in repealing the carbon tax, which has hurt consumers via high electricity costs and damaged the economy.
-- Now expects Adjusted EBITDA range to be above prior targeted range -- Reflects continued strength in Peabody's operating performance -- Expected Adjusted Diluted EPS modified to also reflect repeal of Minerals Resource Rent Tax in Australia
- Second quarter revenues of $1.76 billion lead to Adjusted EBITDA of $213 million - Diluted Loss Per Share from Continuing Operations and Adjusted Diluted Loss Per Share both total $(0.28)
- North Goonyella and Metropolitan longwalls successfully commissioned - Sustainable cost improvements continue across the platform; capital efficiency initiatives lead to reduced capital spending targets of $210 to $250 million - Global coal market share increases to 30 percent of energy consumption; greatest contribution to energy mix since 1970 ST.
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